The Nigerian National Petroleum Corporation (NNPC) yesterday released its December 2018 financial and operating report, posting a trading surplus of ₦12.13 billion, a development it said sprang from the success recorded by its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC). The national oil company also said it recorded an upsurge in pipeline vandalism which […]
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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has advised all its partners involved in the Direct Sale Direct Purchase (DSDP) scheme to patronise the NNPC shipping subsidiary (NIDAS), as a way of sustaining the profitability of the national oil outfit. Baru passed the advice to two of NNPC’s […]
Read More Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has refuted social media post by one Jomo Iroha, that its President, Francis Johnson, issued a statement over the sale of the Nigeria National Petroleum Corporation, NNPC. The Association in a statement by Lumumba Okugbawa, its General Secretary, insisted that at no time did PENGASSAN […]
Read More The Federal Government paid a total of ₦1.628 trillion in the joint venture cash call from January to November 2018, latest data from the Nigerian National Petroleum Corporation have shown. The dollar allocation to the JV cash call account was $3.712 billion while the naira portion was ₦496.703 billion, according to the corporation. The nation’s […]
Read More The Nigerian National Petroleum Corporation and the Nigeria Police Force on Tuesday pledged to work together in a renewed drive to combat the perennial menace of oil theft and pipeline vandalism across the country. The Group General Manager, Group Public Affairs Division, NNPC, Ndu Ughamadu, said in a statement issued in Abuja that the decision […]
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…Records Monthly Trading Surplus of ₦2.06 billion A total of 735 Million Standard Cubic Feet of gas per day (mmscfd) was delivered to gas fired-power plants in November 2018 compared with October 2018 where an average of 627mmscfd was supplied, a release by the Nigerian National Petroleum Corporation Group General Manager, Group Public Affairs Division, […]
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The Nigerian National Petroleum Corporation (NNPC) is finding it difficult to access funds from private investors to undertake most of its oil and gas operations because it is unable to show that it is transparent, efficient in corporate governance and can make good returns on its investments, the Nigeria Natural Resource Charter (NNRC) has alleged. […]
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The Nigerian Petroleum Development Company, the upstream subsidiary of the Nigerian National Petroleum Corporation, has said it is aiming to increase its crude oil production to 300,000 barrels per day this year. The Managing Director, NPDC, Yusuf Matashi, said the company would also work towards ramping up its gas production to one billion standard cubic […]
Read More After spending over one and half years negotiating with financiers for the revamp of Nigeria’s refineries, the Nigerian National Petroleum Corporation on Wednesday declared that it could not agree with the investors on the commercial terms of the transaction. Punchng had early reported that the NNPC looked set to announce investors for the proposed rehabilitation of […]
Read More Infrastructure Concession Regulatory Commission, ICRC, and Dangote Group, yesterday, advised the Federal Government to hands off the running of the country’s refineries and instead concession the facilities, allowing private sector participation. Speaking at the just concluded Nigeria International Petroleum Summit, NIPS, in Abuja, yesterday, Director-General of the ICRC, Mr. Chidi Izuwah, said the future of […]
Read More The Nigerian National Petroleum Corporation, NNPC, Tuesday, said security agencies guarding oil installations had captured Mr. Shuaibu Ogunmola, an alleged kingpin of oil pipeline vandalism in Lagos. In a statement in Abuja by its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, the NNPC said this was following concerted efforts by its management […]
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The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, said on Wednesday that he would privatise the Nigerian National Petroleum Corporation if elected, describing the state-owned oil firm as a “mafia organisation.” Atiku was quoted by TheCable as saying at an interactive session with the business community in Lagos that he would take the […]
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